Sarepta Therapeutics (NASDAQ:SRPT) Price Target Lowered to $84.00 at JPMorgan Chase & Co.

Sarepta Therapeutics (NASDAQ:SRPT) had its target price reduced by JPMorgan Chase & Co. from $169.00 to $84.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company cut their target price on Sarepta Therapeutics from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Cantor Fitzgerald lowered their price objective on Sarepta Therapeutics from $163.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC lowered their price objective on Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada lowered their price objective on Sarepta Therapeutics from $87.00 to $58.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler lowered their price objective on Sarepta Therapeutics from $110.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.61.

Sarepta Therapeutics Stock Up 5.4%

Shares of SRPT opened at $39.99 on Tuesday. The company has a market capitalization of $3.93 billion, a PE ratio of 31.99 and a beta of 0.85. Sarepta Therapeutics has a 12 month low of $34.10 and a 12 month high of $173.25. The stock’s 50-day moving average price is $57.70 and its two-hundred day moving average price is $96.19. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The firm’s quarterly revenue was up 80.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the transaction, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in Sarepta Therapeutics by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock valued at $75,842,000 after purchasing an additional 12,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Sarepta Therapeutics during the 4th quarter valued at about $3,829,000. Allspring Global Investments Holdings LLC boosted its stake in Sarepta Therapeutics by 16,717.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company’s stock valued at $10,602,000 after purchasing an additional 84,926 shares during the last quarter. Van ECK Associates Corp boosted its stake in Sarepta Therapeutics by 24.4% during the 4th quarter. Van ECK Associates Corp now owns 84,834 shares of the biotechnology company’s stock valued at $10,315,000 after purchasing an additional 16,658 shares during the last quarter. Finally, Sivik Global Healthcare LLC acquired a new position in Sarepta Therapeutics during the 4th quarter valued at about $1,216,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.